FxMarketStrategy

BTCUSD to continue to 21K

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello traders,

We had
  BTCUSD will reach 26K easily in the next 100 Days. This claim is not too far from truth, BTCUSD is taking Media attention again. and more Buyers will jump in.

The question is !!! After more Buyers jump in, will the Holders of large BTCUSD will sell their coins rapid and fast at some point soon causing market to fall fast again or they will hold most of their coins hoping fir 50K.

The market of BTCUSD is under capitalized, there is potential to double once , twice or even 5 times and still be accepted.

Can we see the 36K level ? Well, breaking the 20K phycological number is very important then retest this 20K level, once the 20K level is taken and we are steadily setting above it, We can discuss the 36K as next far target.

Does BTCUSD have the potential to reach ? Yes.
Is the price now good to buy? This is risky buy from here, not as those who did buy from 6-7 K in April after the crash.

As interest rate is extremely low, Bond yields are not attractive, stocks have their risk and limits, Gold is falling as the Vaccine was announced, Investors I mean big size ones, will be targeting Real state - Stocks and recently BTCUSD as part of their Portfolio.

The risk is, the more of those managers hold, the more risk BTCUSD can fall rapid? why
Fund managers will be watching closely and any fall in BTCUSD can trigger a hude sell off and dumping f the currency to book profit.

So, Invest careful.... and Best luck. BE aware before Holidays usually there is a profit taking in stocks or fast rise in things like Gold . will BTCUSD fall like stocks, or rise like GOLD ? most likely will rise sharp to 21K and if broken then 26 and 36K.

IF This support is broken which is highlighted, we can see a big correction to 12500 Psychological number but I doubt that scenario.

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Comments

Great analysis and description @FxMarketStrategy
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@forexboat, Thanks bro, that is nice of you.
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